I need help setting this information up in quickbooks.

Part I Set up a new company in QuickBooks using the following information. (Reminder: Save your company file to the location specified by your instructor. Use the filename: [your name] Comp Exam 2) On January 1, 2021, you establish a retail store that specializes in flower arrangements and floral services. Company Name Legal Name Federal Tax ID Address City State Phone Zip Industry Company Type What do you sell? Estimates Billing Statements Progressive Invoicing Track Time Also Track Sales Orders/Inventory/Bills Fiscal year starts Checking Account Customers and vendors using the following information. Vendor Name/Company Name Address Contact Telephone Terms Flowersbyweb 19 Web Lane Bayshore, CA 94326 Herman 415-555-4567 Net 30 [your name] Comp Exam 2 [your name] Comp Exam 2 12-1234567 222 Main St Sanderson, CA 415-258-1356 94355 Retail Shop or Online Commerce S Corporation Both products and services Yes Yes Yes Yes January 1, 2021 [your name] Comp Exam 2 Checking Vendor Name/Company Name Address Contact Telephone Terms Vendor Name/Company Name Address Contact Telephone Terms Customer Name/Company Name Address Telephone Terms Tax Customer Name/Company Name Address Baskets Galore 444 Weavers Avenue Bayshore, CA 94326 Hope 415-555-8901 Net 30 EZ Rental 14 Appleton Blvd. Bayshore, CA 94326 Robert 415-555-4590 Net 30 St Luke's Church 330 Third St Bayshore, CA 94326 415-555-1234 Net 30 Non Telephone Terms Tax Missy Benson 923 Maple Lane Bayshore, CA 94326 415-555-4321 Net 30 Tax Customer Name/Company Name Ellen Johnson Address Telephone Terms Tax 9012 Olive Blvd Bayshore, CA 94326 415-555-0987 Net 30 Tax Add the following information to the Item List. All are taxable. Item Type Item Name/Description Income Account Quantity on Hand Cost Sale Inventory Part Basic Floral Kit Merchandise Sales 0 $20 $50 Item Type Item Name/Description Income Account Quantity on Hand Cost Sale Inventory Part Deluxe Floral Kit Merchandise Sales 0 $28 $65 Item Type Item Name/Description Income Account Quantity on Hand Cost Sale Inventory Part Roses (per dozen) Merchandise Sales 0 $10 $35 Item Type Item Name/Description Income Account Service Floral Design 48600 - Service Sales (add acct if necessary) Item Type Item Name/Description Subitem of Income Account Rate Tax Service Wedding Designs Floral Designs 48600 - Service Sales $25 Tax Item Type Item Name/Description Subitem of Income Account Rate Tax Service Funeral Designs Floral Designs 48600 - Service Sales $20 Tax State tax rate is 7.75%. The tax agency is California State Board of Equalization After displaying account numbers, modify or add the following accounts, including the appropriate tax line, to the chart of accounts for the new QuickBooks company. 10100 [your name] Comp Exam 2 Checking Opening balance: $0 14400 14500 Tax line: B/S Assets: Cash Industrial Refrigerator Industrial Refrigerator Cost As of 1/1/2021 B/S-Assets: Buildings/oth. depr. Assets B/S-Assets: Buildings/oth. depr. Assets (Subaccount of Industrial Refrigerator) Opening balance: $5,000 as of 1/01/2021 14600 Acc Depr-Industrial Refrigerator B/S-Assets: Buildings/oth. depr. Assets (Subaccount of Industrial Refrigerator) Opening balance:$ 0 as of 1/01/2021 You decide to hire someone (Beth Kochan) to help run the store. Configure QuickBooks for the processing of payroll manually. Enter payroll information for Beth Kochan Compensation type Your company does not provide Hourly Insurance benefits Retirement benefits Paid time off Employee Beth Kochan 555 Wayside Dr Address Bayshore, CA 94326 SSN 987-65-4321 Telephone 415-555-5827 Hired Date 1/2/2021 Pay Period Bi-monthly (on 15th and 31st) Hourly rate $10.00 State tax CA -California (only) Federal and State Filing Status Single Federal and State Allowance 1 Wage Plan Code S (State Plan for Both UI and DI) CA Disability Employee Rate 1.0% CA-Employment Training Tax 0.1% CA Unemployment 1.5% Form 940 and Form 941 payment schedule Quarterly CA withholding and disability insurance payment schedule/CA UI and Employment Training Tax Payee EDD CA Employment Development Dept Employer Acct. No. 999-9999-9 Payment frequency Quarterly Only withhold FIT/FICA/SIT from Beth's Hint for problem check Part II Record the following transactions in QuickBooks for the new company. Reminder: Print your company name on all checks. Assume the following rates for payroll withholdings. Federal income tax Social security (employee and company) Medicare (employee and company) State (CA) income tax Date 01/01/2021 10.00% 6.20% 1.45% 5.00% Transaction You invest $6,000 (check number 101) in the business. Took out a bank loan for $12,000. This will be repaid within 1 year. (account number 26100 Note Payable-Bank) Received the bill and paid one month's rental ($250) to EZ Rental. 01/03/2021 01/06/2021 01/07/2021 Ordered 10 Basic Floral Kits and 5 Deluxe Floral Kits from Baskets Galore. Received all 10 Basic Floral Kits and all 5 Deluxe Floral Kits ordered on 01/01/2021 from Baskets Galore Ordered 5 dozen roses from Flowersbyweb. Provided an estimate of 12 Wedding Design Arrangements for Missy Benson Received bill from Baskets Galore for 01/01/2021 order. 01/07/2021 01/9/2021 01/10/2021 01/13/2021 Received order in full from Flowersbyweb and also received invoice. Sold 1 Funeral Design Arrangement to St Luke's on account. Awarded job from Missy Benson. Sent Missy Benson invoice for completing half of the job. Paid Baskets Galore in full for merchandise ordered on 01/01/2021. 01/13/2021 01/14/2021 01/15/2021 01/20/2021 01/21/2021 Paid Flowersbyweb for goods ordered on 01/06/2021. Received payment from St Luke's (check no. 350) and deposited the funds. Received payment from Missy Benson for job above (check no. 1015) and deposited funds. Paid Beth for this pay period. For this pay period Beth worked 20 hours. Went to Office Depot for office supplies - wrote $35 check from business account to cover it. Sent Missy Benson invoice for completing the job. 01/22/2021 01/28/2021 01/30/2021 01/31/2021 01/31/2021 Sent reminder statements to outstanding customer accounts. Received payment from Missy Benson for completing job (check no. 1022) and deposited funds. Sold 1 dozen roses to Ellen Johnson (cash sale). Paid Beth for this pay period: 15 hours. Sold 25 Wedding Designs and 3 dozen Roses to St Luke's Church for cash and deposited these funds along with all undeposited funds. Part III Complete all tasks below. Convert all applicable reports to Excel. 1. Run the payroll summary report as of 01/31/2021. 2. Run the Unadjusted Trial Balance at January 31, 2021. Convert to Excel and submit 3. Make the following adjusting entry: a. Industrial Refrigerator depreciation expense is $75 per month. 4. Print the following reports using QuickBooks. Convert to Excel and Submit to your Instructor: a. Journal from January 1, 2021 to January 31, 2021. b. Adjusted Trial Balance at January 31, 2021. c. Profit and Loss, standard, from January 1,2021 to January 31, 2021. d. Balance Sheet, standard, at January 31, 2021. e. Statement of Cash Flows for January 1, 2021 to January 31, 2021. f. Customer Balance Detail for January 1, 2021 to January 31, 2021. g. Chart of accounts. h. Vendor Balance Detail Create and convert to Excel a Profit and Loss Budget for 2021 based on the following 5. information. a. January projected merchandise sales: $400 b. Monthly expected sales increase: 3% (compounding) c. Monthly rent increase: 1% (compounding, January's rent $200)